Forrester assesses The Total Economic Impact™ of AssistEdge RPA Platform for Royal Phillips
Cost Savings And Business Benefits Enabled By AssistEdge RPA For Royal Philips
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About The Report
EdgeVerve commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying the EdgeVerve AssistEdge RPA platform. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of the AssistEdge RPA platform on their organizations. To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed Royal Philips, an EdgeVerve AssistEdge customer and global leader of healthcare technology headquartered in Europe.
Royal Philips had an established partnership with Infosys BPM in handling its finance operations. As Royal Philips looked to expand its automation capabilities, it worked with EdgeVerve and Infosys BPM to define strategic use cases for RPA implementation, within the existing Infosys BPM functions. Based on design principles, and change management, standard processes for RPA were defined and implemented from 2018 for the customer.
For this use case, Forrester has modeled benefits and costs over three years.
Royal Philips adopted a Hoshin strategy to eliminate, simplify, standardize, and automate finance operations processes. As part of this strategy, Royal Philips identified robotic process automation (RPA) as one of the approaches to automation. Through RPA, Royal Philips was looking to enable the following:
Automation of 1 million work hours in finance operations over three years of deployment
Efficient, improved, and consistent performance across finance operations
Centralized BPM operations and enable end-to-end automation across finance operations domain
Key Benefits Delivered
After Investing in AssistEdge RPA, Royal Philips experienced the following benefits:
The savings experienced by Royal Philips over a period of three years were:
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RPA implementation allowed for automation of tasks across 220 use cases in finance BPM operations, including automation, elimination, and standardization of processes. The automated FTE hours and productivity gains from this implementation enabled cost savings for Royal Philips. Other benefits Include:
72%
Reduction in average handling time of payroll posting
30%
Average reduction in the time spent in cash collection processes
31%
Automation rate with its BPM Operations over 3 years
Download the study to know how Royal Philips successfully achieved these results and how your organization can benefit from RPA:
About AssistEdge
AssistEdge offers a cohesive automation platform that enables enterprises to scale in their automation journey. It offers enterprises with a comprehensive suite of products enabling them to drive initiatives around process discovery, intelligent automation and digital workforce orchestration. AssistEdge has helped enterprises unlock value in the form of reduced service time, faster sales cycles, better resource allocation, accelerated revenue recognition and improved efficiency among others.
Want to see how your enterprise can achieve similar benefits with AssistEdge RPA? Click below to schedule a call.